On November 2, 2026, Egyptian Prime Minister Dr. Mostafa Madbouly addressed a gathering to commemorate the start of trading on Banque de Caire shares on the Egyptian Stock Exchange. He described this event as a milestone in Egypt's economic reform journey and a significant step towards enhancing private sector participation. This development is part of the state's vision for public ownership policy, aiming to broaden the base of ownership among citizens and institutional investors.
Dr. Madbouly highlighted the importance of this event, which coincides with the 20th anniversary of the current Egyptian Stock Exchange building. He noted that the offering is one of the largest public offerings in the history of the Egyptian capital market, reflecting the state's commitment to developing the management of its assets and promoting the role of the private sector. The Prime Minister expressed his satisfaction with the successful execution of this offering, which demonstrates the state's commitment to its economic reform program.
The Prime Minister emphasized that the government's efforts over an extended period have led to this stage, despite external queries about Egypt's commitment to its public offering program and state ownership policy. He stressed that the successful listing of Banque de Caire shares sends a clear message about the state's commitment to moving forward with its economic reform agenda. This development is a testament to Egypt's ability to meet its economic obligations despite global challenges.
Dr. Madbouly highlighted the exceptional success of the Banque de Caire share offering, with a valuation exceeding 80 billion Egyptian pounds and an offering value of over 36 billion Egyptian pounds. These figures demonstrate the strong interest in the offering and confidence in the Egyptian banking sector. The Prime Minister sees these indicators as a reflection of the strength and solidity of Banque de Caire's financial position and a vote of confidence in the Egyptian stock market's ability to absorb large-scale offerings.
The Prime Minister reassured that the Egyptian government will continue to implement its public offering program based on a clear strategic vision. The goal is to enhance the efficiency of national companies and assets, introduce governance and transparency principles, attract foreign investment, and support partnerships with the private sector. This approach aims to boost the competitiveness of the Egyptian economy and achieve development targets.
Dr. Madbouly expressed his gratitude to all parties and cadres involved in the success of this exceptional project, emphasizing that this achievement is the result of joint efforts and continuous cooperation among various concerned institutions. He reiterated the state's commitment to continuing with the public offering program across promising economic sectors, supporting economic reform efforts, and enhancing the role of the private sector in economic activity.
In conclusion, the Prime Minister wished Banque de Caire and its new shareholders continued success and prosperity, and the Egyptian economy further growth and stability. He thanked the attendees for participating in this historic session, marking a significant milestone in Egypt's economic development journey.
Key points
- The listing of Banque de Caire shares on the Egyptian Stock Exchange is one of the largest public offerings in Egyptian capital market history.
- The offering reflects the state's commitment to enhancing private sector participation and broadening ownership among citizens and institutional investors.
- The successful listing demonstrates confidence in the Egyptian banking sector and the stock market's ability to absorb large-scale offerings.
